DWP confirms huge rise in Pension Credit | European Markets

The Division for Work and Pensions (DWP) has confirmed a vital rise within the quantity of people claiming Pension Credit score over the previous yr. In a latest social media replace, the DWP revealed that it acquired 105,100 more functions for Pension Credit score in comparison with the identical period final yr.

Moreover, almost 1.4 million people nationwide are at the moment benefiting from this means-tested assist. Opposite to common perception, having financial savings or proudly owning property doesn’t disqualify somebody from receiving Pension Credit score.

This benefit can help cowl housing prices, heating payments, Council Tax, present a free TV licence, amongst different issues. Even a modest award of simply £1 per week can result in further help.

Who can declare Pension Credit score?

Pension Credit score is out there in two types: Assure Credit score and Financial savings Credit score. To qualify for Assure Pension Credit score, you have to have reached the State Pension age (66), and your weekly income have to be beneath the UK Authorities’s minimal dwelling commonplace – £218.15 for a single particular person and £332.95 for a couple.

These figures might be increased if you happen to’re disabled, a carer, or have sure housing prices. For those who’re a carer, disabled, or have particular housing prices, you is perhaps eligible for more than the usual quantity.

Financial savings Credit score can offer up to a sure sum, with the precise quantity relying in your income and financial savings, together with assumed income from financial savings and capital over £10,000.

Who’s eligible?

Those that are eligible for Pension Credit score can test their eligibility utilizing the federal government’s Pension Credit score calculator, which could be discovered right here. To make use of the calculator, you will need to supply details about your self and your accomplice, in case you have one:

• Whether or not you’re registered blind
• Any financial savings, investments or bonds you will have
• Your residential standing
• Any employment earnings
• How a lot you obtain every week for any advantages you get
• Whether or not somebody is paid Carer’s Allowance to look after you
• Your date of beginning
• Which advantages you at the moment obtain
• The place within the UK you reside
• How a lot you get every week from pensions – State Pension, personal and work pensions

After answering these questions, a abstract screen will show your responses, permitting you to review and change any solutions earlier than submitting.

Easy methods to apply for Pension Credit score

The Pension Credit score calculator will then let you know how a lot you may obtain every week. As for making use of for Pension Credit score, you can begin the method within the 4 months main up to your State Pension age and at any time afterwards – on this case, your declare might be backdated by up to a few months.

Additionally, you will need sure data available earlier than beginning the appliance course of:

• Info concerning income, financial savings, and investments you might have in addition to this data courting back to up to a few months if you happen to’re backdating the declare.
• Your Nationwide Insurance Quantity
• Your bank particulars

Functions could be made online by way of GOV.UK. For those who choose, you possibly can apply by post by printing out and filling within the Pension Credit score declare type and sending it to the DWP Pension Service or call the declare line to request a type.

Complete details about the appliance course of could be discovered right here.